Bank Dhofar plans to issue euro bonds

Muscat: BankDhofar set up a Euro Medium Term Note Programme (EMTN), allowing it to issue Eurobond transactions under the programme in the international market.
BankDhofar’s EMTN programme is listed on the Irish Stock Exchange and enables flexible issuance of bonds up to a maximum volume of $500 million in all major currencies and with various coupon structures.
“This programme will help support the diversification of our funding needs,” said BankDhofar’s acting chief executive officer Abdul Hakeem Omar Al Ojaili.
Meanwhile, BankDhofar earlier said that the bank has achieved a 15.12 per cent growth in net profit at OMR13.56 million for the first quarter of this year, over the same period of 2015.
The bank’s net loans and advances to customers for the three-month surged ahead by 17.39 per cent to OMR2.81 billion from OMR2.39 billion.
Deposits from customers moved up by 6.19 per cent to OMR2.81 billion from OMR2.64 billion in the first quarter period under review, according to a disclosure statement posted on MSM website.